Very positive day for European banks in general (the sector rises 2%) and for the Spanish in particular (Bankia and Sabadell rose more than 7%, respectively). The Ibex, is benefiting from this rebound in the banks and is already close to 9,000 points (+ 1.55%. 8,993 points). The good tone in the international geopolitical sphere is encouraging the sector. The United Kingdom is moving towards an extension of Brexit and China and the US will speak in October. Both things like.
We also highlight the increases in ArcelorMittal (+ 3.2%) and Acerinox (+ 4.17%), thanks to the good news related to the trade war. This same reason is what explains the good tone that Cie has adopted throughout the session.
As for Mediaset, it approved its merger yesterday at the extraordinary Shareholders' Meeting but Vivendi again threatened to take them to court because, they say, the merger only favors Berlusconi. The company has also made great progress today (+ 2.76%).
COMMERCIAL WAR AND BREXIT
The rebound also came to Wall Street on Wednesday and sticks around today. The Asian stock markets are still fueled by what could be the end of three months of protests in Hong Kong. Although the Hang Seng has corrected this Thursday, 4% was shot yesterday by the withdrawal of the extradition bill that Carrie Lam's executive confirmed.
However, the straightening of negotiations between China and the US is what spurs investors. Both parties agreed to hold another round of trade negotiations in Washington, early next month, and conduct consultations in mid-September to prepare for the meeting, according to a statement from the Chinese Ministry of Commerce reported by 'CNBC'.
Back in the Old Continent, Brexit is still another market engine this week. The operators have preferred to hold on to the news of Boris Johnson's double defeat on Wednesday, which lowers the chances that the divorce will end on October 31 without an agreement, and set aside other obstacles that are still in the way. However, the Ftse has closed with a 0.5% drop before the request for elections that the British premier is expected to make next Monday.
TECHNICAL ANALYSIS
"For the first time in a long while we have the Ibex behaving better than the rest of our neighbors in the Old Continent. And the reason is none other than the banks, which rise strong. Something that as we always like to remember is a movement The European banking index, after all, the EURO STOXX Banks has reached an intraday rise clearly above 3%, "said José María Rodríguez, analyst at Bolsamanía.
"And if the banks are the main culprits that the Ibex is where it is, now they are also the recovery in this session. But let's not fool ourselves because today it is a simple rebound as a result of extreme overselling. Rebound which on the other hand may have continuity in the next days / weeks, "he adds.
"The European banking index to which we have referred before marked minimums in mid-August, coinciding with the cents with Brexit minimums. This means that the rebounds fit absolutely within expectations after being able to respect supports. And this could continue to climb positions strongly in the short term without ceasing to be bearish, "says this expert.
"As for the index, at least we have been able to leave behind the resistance of 8,900 points. Now the next control zone above, in this case resistance, we find it in the environment of 9,050 points: 61.8% of the entire fall since the highs of the end of July, "concludes the analyst.
